NY S08639

Authorizes Nassau County to lease Lot 9 at Silver Point in Atlantic Beach (formerly Lots 1, 2, 7, and 8) at fair market value under terms the county deems reasonable, replacing a prior lease authorized under chapters 269 of 1979 and 459 of 1998.

Requires the leased parkland to remain on municipal assessment rolls and be subject to real estate taxes and assessments like privately owned land, with full tax payment as a condition of the tenant's occupancy rights.

Mandates that a copy of any executed lease be filed with the Nassau County Clerk within ten days.

Requires all lease revenue to be deposited into a dedicated account used exclusively for acquiring additional parklands, making capital improvements to existing parks, or financing parkland improvements.

Provides that the lease automatically terminates and possession reverts to Nassau County if the lessee fails to use the lands and improvements for public recreational purposes.